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M3-123 Infor Certified M3 Finance Consultant Question and Answers

Question # 4

When configuring the supplier master Supplier. Open (CRS620) in Infor M3, another table setup is mandatory. Which one of the following table setups is required?

A.

Supplier. Connect Item (PPS040)

B.

Supplier. Connect Address (CRS622)

C.

Bank Account. Open (CRS692/B)

D.

Supplier. Define Purchase Financial (CRS624)

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Question # 5

You are matching a purchase order to a supplier invoice. There is a difference between the purchase order record and the amount of the invoice received from the supplier. Which one of the following tasks do you complete prior to recoding the invoice?

A.

Approve the invoice for payment

B.

Approve the invoice variance

C.

Split the invoice

D.

Reject the invoice for payment

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Question # 6

Which one of the following components determines which value-added tax (VAT) method and VAT rate to apply for a specific type of business transaction?

A.

VAT code

B.

VAT exceptions

C.

VAT report from date

D.

VAT values for FAM functions

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Question # 7

Which three of the following describe accounting structures? (Choose three.)

A.

Only important when the identities you want to group together are sequentially numbered

B.

Purpose is to group identities for display and printout purposes

C.

Hierarchical model corresponding to an organization’s structure

D.

Group of accounting identities or other accounting structures

E.

Sub-structures containing many accounting identities cannot easily be moved to new accounting structures

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Question # 8

Which one of the following processes updates the standard cost of an item?

A.

Manufacturing items

B.

Getting acquired items into inventory

C.

Calculating the cost of acquiring items

D.

Re-selling acquired items

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Question # 9

Which one of the following describes the general accounts receivable setup program?

A.

Company. Open (MNS095)

B.

Settings - Accounts Receivable (ARS905)

C.

Account Group. Open (CRS633)

D.

Settings - General Ledger (CRS750)

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Question # 10

You need to retrieve the purchase price for purchase costing. Which two of the following programs should you use? (Choose two.)

A.

Purchase Costing. Simulate (PPS295)

B.

Item. Open (MMS001)

C.

Item.Connect Warehouse (MMS002)

D.

Supplier.Connect Item (PPS040)

E.

Purchase Agreement.Open (PPS100)

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